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FARMERS’ PROBLEMS.

AFTERMATH OF HIGH PRICES. STATE ASSISTANCE URGED. GOVERNMENT TAKING ACTION. PREMIER SAYS OUTLOOK BETTER. (By Wire—Parliamentary Reporter.) Wellington, Last Night. The Leader of the Opposition (Mr. T. M. Wilford) asked in the House to-day whether in view of the serious position in which many farmers found themselvse the Government would appoint officers to endeavor to obtain a readjustment of mortgages. Mr. Massey said this was oefng asked for, and was being done substantially. Legislation was not being introduced, for he did not think that it would be right to do anything to tear up contracts. He had arranged for the Valuer-General tc visit the Waikato again and also to go to Taranaki, for it seemed that these were the two parts of New Zealand where the price of land had risen highest—higher than it should have done.

He had already arranged for the remission of stamp duty when mortgages were reduced, and a Bill was coming before Parliament to effect it in a few days. He intended, if possible, to appoint another officer to act in this matter, since it was not possible for the Valuer-General to do this work and to fulfil his duties in Wellington. The difficulty was that every officer was hot suitable for a position of the kind. CHANGE FOR THE BETTER. Matfers were improving, continued the Prime Minister, and the outlook was very much better than it was a month ago. The difficulty that had then arisen with regard to the surplus of butter in London had disappeared. He could not hurry matters, but the Government was willing to do everything possible to get past a very difficult position. He did not wish it to go out that the whole of the dairy farmers were in difficulties. If that impression went abroad it would have a very serious effect bn the credit of all the farmers of the country. Mr. Wilford said he did not wish to convey that impression. Although representations had been made by hundreds of dairy farmers that did not imply that the whole of the dairy Industry was in the same position. Mr. J, McCombs (Lyttelton) said that as a member of the committee of members which had considered this matter he Wished to mention that dairy farmers had asked for legislation in the direction of protection in the matter of interest. The Government had granted a moratorium to protect companies that were in some cases pressing these small farmers. He quoted the recommendation of the committee of members . that where application was made for the hearing of a case of the kind there should be a stay of all legal proceedings until a decision had been given; that all applications should be made before March 31 and decided upon before June 30 next. He asked if the Government would immediately introduce legislation on these lines. The Prime Minister said that he could not promise to bring in legislation on these lines.

Mr. McCombs: The protection of big companies was easy enough. Mr. Massey: There is the politician and the unscrupulous politician. He knows well enough that the moratorium was passed in war time for the protection of mortgagors from unscrupulous mortgagees, and that is still being HIGH PRICED LAND. To further urging by Mr. J. A. Young (Waikato) that Cabinet should consider some means of granting relief to these farmers, Mr. Massey said he thought that it was well enough known that the difficulty had arisen because when buttefr was at its top price many farmers considered that those rates were likely to continue foi* many years to come. These opinions were expressed by many people who ought to have known better, and in consequence many people had bought land at far too high prices. He would take an early opportunity of bringing the whole matter before Cabinet to see if it was possible to -find a remedy. Mr. G. Witty (Riccarton) asked the Prime Minister if he would arrange tor the protection of mortgagees. Some of these had lent out money which was two and three years overdue, he said, and being unable to get it back, they had to pay high rates of interest to borrow. In consequence the land mortgaged had been sold and resold in many instances, and had deteriorated in quality.

Mr. Massey said that this was simply part of the larger question. People had no idea of the complications involved. .tie had had numerous letters from numerous people who were not able .to collect the money owing to them and had, in consequence, to borrow at higher rates than those they were receiving. He would go into the matter during the recess, but it was impossible to deal with it at present.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19220209.2.54

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 9 February 1922, Page 5

Word count
Tapeke kupu
790

FARMERS’ PROBLEMS. Taranaki Daily News, 9 February 1922, Page 5

FARMERS’ PROBLEMS. Taranaki Daily News, 9 February 1922, Page 5

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